Jun
23
Freddie Mac Sells Off $706M in Delinquent Loans
ByFour of the five pools were purchased by an affiliate of Lone Star Funds.
Don Layton, CEO, Freddie Mac
McLean, Va.—By auction, Freddie Mac has sold from its mortgage-related investments portfolio 2,879 “deeply delinquent” non-performing loans serviced by Bayview Loan Servicing LLC. The sale is expected to settle in August, after which servicing will be transferred.
The loans, which totaled $706 million in unpaid principal balance, were offered as five separate pools, three of them geographically diverse Standard Pool Offerings. The other two packages were New York- and New Jersey-only pools…
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